State Treasurer State of Michigan lowered its position in shares of Tractor Supply (NASDAQ:TSCO) by 1.9% in the second quarter, HoldingsChannel.com reports. The fund owned 36,152 shares of the specialty retailer’s stock after selling 700 shares during the quarter. State Treasurer State of Michigan’s holdings in Tractor Supply were worth $2,765,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wasatch Advisors Inc. boosted its stake in Tractor Supply by 100.0% during the 1st quarter. Wasatch Advisors Inc. now owns 16,800 shares of the specialty retailer’s stock worth $1,059,000 after acquiring an additional 8,400 shares during the last quarter. D.B. Root & Company LLC bought a new position in Tractor Supply during the 1st quarter worth approximately $213,000. Dupont Capital Management Corp boosted its stake in Tractor Supply by 33.1% during the 1st quarter. Dupont Capital Management Corp now owns 10,878 shares of the specialty retailer’s stock worth $686,000 after acquiring an additional 2,706 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Tractor Supply by 8.8% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 17,998 shares of the specialty retailer’s stock worth $1,134,000 after acquiring an additional 1,455 shares during the last quarter. Finally, Manning & Napier Group LLC bought a new position in Tractor Supply during the 1st quarter worth approximately $259,000. 82.76% of the stock is owned by institutional investors.
Shares of TSCO opened at $81.37 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.19 and a current ratio of 1.92. Tractor Supply has a twelve month low of $54.20 and a twelve month high of $82.68. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.50 and a beta of 1.33.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, July 26th. The specialty retailer reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.08. Tractor Supply had a net margin of 6.34% and a return on equity of 35.24%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. analysts anticipate that Tractor Supply will post 4.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 11th. Shareholders of record on Monday, August 27th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, August 24th. Tractor Supply’s payout ratio is currently 37.24%.
Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Tractor Supply to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, July 17th. BidaskClub raised shares of Tractor Supply from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. Zacks Investment Research lowered shares of Tractor Supply from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Wells Fargo & Co reissued a “buy” rating on shares of Tractor Supply in a research note on Thursday, July 26th. Finally, TheStreet raised shares of Tractor Supply from a “c+” rating to a “b-” rating in a research note on Monday, May 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $79.62.
In other news, EVP Benjamin F. Parrish, Jr. sold 5,000 shares of the business’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $78.44, for a total value of $392,200.00. Following the sale, the executive vice president now owns 21,948 shares of the company’s stock, valued at $1,721,601.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Steve K. Barbarick sold 20,000 shares of the business’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $79.99, for a total transaction of $1,599,800.00. Following the completion of the sale, the chief marketing officer now directly owns 76,953 shares in the company, valued at approximately $6,155,470.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,146 shares of company stock worth $2,890,607. Insiders own 1.60% of the company’s stock.
About Tractor Supply
Tractor Supply Company operates rural lifestyle retail stores in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.
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